Preheat oven to 350 F.
In a medium bowl, combine the flour, baking soda, baking powder, and salt. Set aside.
In a large bowl, beat the butter and peanut butter together until smooth and creamy. Add the sugars, and beat until smooth. Add the egg and mix well. Add the milk and vanilla.
Add the flour mixture and beat thoroughly. Stir in the peanut butter chips and peanuts.
Drop by rounded teaspoonfuls on ungreased cookie sheet, a couple inches apart. Bake for 10-12 minutes. Do not over bake; cookies may appear to be undercooked but they are not.
Let cookies cool on the cookie sheet one extra minute before transferring to a cooling rack to cool completely.
Adapted from The Cook Next Door